Sector Update: Energy Stocks Lean Lower Pre-Bell Tuesday
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Energy stocks were lower premarket Tuesday, with the State Street Energy Select Sector SPDR ETF (XLE) down 0.2%. The United States Oil Fund (USO) fell 1.8%, and natural gas futures were down 1.3%. Crude oil prices also declined, with WTI down 2.4% at $103.85 per barrel. Enlight Renewable Energy (ENLT) saw a 4% increase after reporting strong Q1 earnings, while Kosmos Energy (KOS) dropped over 6% due to a Q1 loss. Peabody Energy (BTU) shares fell 5% after reporting a Q1 loss.
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